The US-Canada Tax Treaty in the Post-Pandemic Era: What You Need to Know for Cross-Border Operations
The US-Canada Tax Treaty is a critical agreement that governs the taxation of individuals and businesses operating across the border between the United States & Canada. This agreement lessens tax obligations for those conducting business in both nations and helps
When Should You Let a CPA Handle Your Tax Preparation In Canada?
For small companies, taxes are an inevitable fact of life. However, depending on your business's needs, structure, and size, you may manage and file your taxes differently. The best option is to hire a tax expert, such as a certified
Why International Tax So Important To The US Tax Code?
The international tax is among the vital aspects of the US tax code. Especially, multinational firms or organizations with cross-boundary presence are subject to international tax. The IRS keeps modifying and bringing new pointers frequently to the international tax. This
Chemical Excise Tax: What do business owner ex-pats need to know about this?
After being passed unanimously by the House, the new Superfund Excise Tax is set to be effective from 1st July 2022. The policies shall remain in effect until 31st December 2031. This is more of a reinstatement of the previous
What is ‘luxury tax’ in Canada and how is it going to affect expats?
The luxury tax was first proposed on 10th August 2021 (2021 budget). However, the necessary steps were taken very recently on 11th March 2022 to create the draft legislation. Stakeholders were invited to share their views on the draft by
What Do Non-Resident Canadians Need to Know Before Filing Taxes in 2022?
Non-Resident Canadians are deemed residents of Canada as of 2021. As per the definition laid down by the CRA (Canada Revenue Agency), non-residential Canadians are persons who reside in Canada for less than 183 days. For the 2022 tax return,
Tax deadline 2022: Everything Expats Need to Know
According to the general rule of the IRS, every U.S. taxpayer must file the annual tax within 18th April 2022. Therefore, it is the busiest hours for the Personal Tax consultancy Service in Toronto. Although there is an extension of
Canada’s digital services tax: New updates for expats
The Digital Services Tax is a fresh mandate introduced by the Canadian policy makers in alignment with the exponential success of the industries situated in the Canadian landscape. This tax focuses on the total revenue earned by mega multinationals and
What Non-residents need to learn about gift tax in Canada?
If you are giving property to Canadian residents, being a non-resident, then you must keep cognizance of some guidelines related to the tax receipts and slabs. There is no such provision to attach a gift tax in Canada, however, only
New Digital Services Tax in Canada: Things expats should know
The Digital Services Tax Act or DST Act has witnessed a massive modification in the last few years. The major changes took place in the Fall economic Statement of 2020 where a bunch of new factors was included. The new Digital